Carvana (NYSE:CVNA) Price Target Raised to $190.00 at Evercore ISI

Carvana (NYSE:CVNA) had its price target upped by Evercore ISI from $186.00 to $190.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential downside of 10.67% from the stock’s previous close.

Several other equities analysts also recently commented on CVNA. Morgan Stanley boosted their price target on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Bank of America boosted their price objective on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and raised their target price for the company from $166.00 to $170.00 in a report on Monday, August 19th. Stephens initiated coverage on shares of Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target for the company. Finally, Citigroup lifted their price objective on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Carvana presently has a consensus rating of “Hold” and an average target price of $182.76.

Carvana Trading Up 1.9 %

NYSE CVNA traded up $3.96 during trading on Wednesday, hitting $212.70. The stock had a trading volume of 900,707 shares, compared to its average volume of 4,765,224. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The company has a market capitalization of $43.09 billion, a PE ratio of 93.04 and a beta of 3.44. The firm has a 50 day moving average price of $170.05 and a 200 day moving average price of $135.38. Carvana has a twelve month low of $25.09 and a twelve month high of $212.83.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. As a group, equities research analysts forecast that Carvana will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total value of $3,000,000.00. Following the transaction, the insider now directly owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Daniel J. Gill sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total value of $3,000,000.00. Following the completion of the sale, the insider now directly owns 359,370 shares of the company’s stock, valued at $53,905,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the sale, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,805,891 shares of company stock valued at $469,633,185 over the last three months. 17.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carvana

Large investors have recently made changes to their positions in the stock. QRG Capital Management Inc. grew its position in Carvana by 16.2% during the third quarter. QRG Capital Management Inc. now owns 6,713 shares of the company’s stock worth $1,169,000 after buying an additional 935 shares during the period. Forum Financial Management LP raised its holdings in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after purchasing an additional 76 shares during the last quarter. CacheTech Inc. purchased a new stake in Carvana during the third quarter worth $224,000. New York State Common Retirement Fund grew its holdings in Carvana by 6.0% in the third quarter. New York State Common Retirement Fund now owns 156,901 shares of the company’s stock valued at $27,318,000 after purchasing an additional 8,849 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Carvana by 80.1% in the third quarter. US Bancorp DE now owns 10,342 shares of the company’s stock valued at $1,801,000 after buying an additional 4,599 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.